EagleBank sat down with Bo Menkiti, Founder and CEO of Menkiti Group, to learn about their transformative impact on the low income urban communities of the DMV – a mission we’ve been proud to support for the last decade.
EagleBank: Tell us about the Menkiti Group’s mission.
Bo Menkiti: The Menkiti Group is a DC-based minority owned real estate services company that’s been in business since 2004. And in our 18 years we’ve been committed to a mission of transforming lives, careers, and communities through real estate. We’ve had the opportunity to develop over 3 million square feet of residential commercial real estate, invested over $350M into low income urban communities, and helped over 2,000 people purchase their first home. It’s something we’ve very proud of.
EagleBank: When did your relationship with EagleBank begin?
Bo Menkiti: I like to say that our relationship with EagleBank started when we got into business in DC, a little over 10 years. Eagle has been a great partner that's evolved with the growth of our company, culminating in Eagle financing the debt on our most recent projects at MLK Gateway, one of the more exciting projects that we've had the opportunity to execute. It really incorporates a number of the historic facades and buildings that define the Anacostia area and serves as an energizing force at the corner of the local communities.
“THEIR PEOPLE ARE A CORE STRENGHT
OF THE BANK. THEY'RE PROBLEM SOLVERS.”
— BO MENKITI
EagleBank: What sparked the idea?
Bo Menkiti: One of the things I truly appreciate is both their capacity and size to do substantial things, but also their local presence, knowledge, and understanding of the local real estate market. What I think sets EagleBank apart comes down to three things. The first is their accessibility. You can reach them when you need them. Second, they’re knowledgeable, understanding complex structures and different financing with local context. And lastly, they’re engaged in our surrounding community. You can’t go anywhere without seeing their commitment to the area.
EagleBank: Any particular strengths you saw in your team at EagleBank?
Bo Menkiti: Value and strength are of course similar, but this is what we felt truly sets them apart as a lender. Their people are a core strength of the bank. They’re problem solvers! Always looking for thoughtful, well-underwritten solutions. They take into account all the specific nuances of what’s happening around us. EagleBank’s size is also a huge strength. They’re big enough to be a true partner and to help businesses grow, yet small enough to be accessible and navigate challenges for their clients. I feel like they’re always by our side. And then finally, I think there is an element of the local context of EagleBank. They’re rooted here in the area so when you're trying to explain something, or get their arms around a specific nuance or opportunity in this market, their familiarity and ability to dig in, to underwrite risk in that market is invaluable to understand what’s going on.
From all of us here at EagleBank, we’d like to thank Bo for his visionary work at Menkiti Group and for the positive change they’ve affected in the communities of our area. If you’d like to learn more about the work of our great partners and clients, head on over to eaglebankcorp.com/customer-stories.
Head over to Urban Atlantic or DC Bilingual to hear from our other great partners.